Here’s the Market Report for January for San Marcos. And here’s the December 2023 Market Report for comparison.
The San Marcos housing market continues to change. This Market Report does not include private sales, mobile homes or multi-family housing. The information is from the MLS and believed accurate when this report was published, but is not guaranteed.
Buyers and sellers need current information about local market conditions if they want to make informed buying and/or selling decisions.
39 homes sold in January 2024 in San Marcos, 5 more than last month.
SAN MARCOS MARKET REPORT DETAILS
Single Family Homes Sold – 23 (down by 2). 34 Average Days on Market. The Average Sales Price was $1,047,000 (down 8%). Average sale was 99% of original asking price.
Condos, Townhomes and Duplexes Sold – 15 (up by 6). 27 Average Days on Market. The Average Sales Price was $630,487 (down 12%). Average sale was 98% of original asking price.
Overall sales volume in January increased from last month. There were fewer single family homes sold, but more condo, townhome and duplex sales for a net increase. The average sales price decreased for single family homes, and for condos, townhomes, and duplexes. Sales prices ranged from $335,000 to $1,565,000.
Compared to January 1 year ago, there were 4 fewer single family home sales in 2024. In contrast, over twice as many condos, townhomes and duplexes sold in 2024 than in January 2023. The average sales price for single family homes in 2024 was 2% lower than in 2023 (the median was 12% lower). The average price was about the same in January 2024 for condos, townhomes and duplexes while the median price was 6% higher.
Average marketing time in January was longer for single family homes and for condos, townhomes and duplexes compared to last month. 8 homes (21%) went pending in 7 days or less.
More than half of the buyers were able to negotiate their sales prices down. But at the same time 41% of the buyers paid list price or more. The median sales price of the single family homes was $950,000 (down 7% from December). The median price was $685,000 for condos, townhomes and duplexes (down 4%).
There were 53 homes for sale at the end of the month, the same as in January. List prices range from $178,900 to $2,500,000. This is a supply of 1.6 months for condos, townhomes and duplexes (up from 1.2 months last month). There is a supply of 1.2 months for single family homes (up from 1.1 months last month), based on the rate of sales over the last 3 months.
San Marcos remains a very strong seller’s market based on current supply and demand.
49 new listings came on the market in January. This was a substantial increase from last month (26), which is not a surprise given the holidays have passed. The number of homes going pending doubled from 20 to 40, excluding the homes that closed escrow in January.
This overview of the San Marcos real estate market is based on data from the MLS. I am happy to share more details for neighborhoods of interest, too (e.g., San Elijo Hills, Lake San Marcos, Santa Fe Hills).
Please contact me directly or by text at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget, and questions. Then we can create a strategy to buy your new San Marcos home if that’s your plan.
Are you considering selling your San Marcos home? Let’s talk about the current market conditions that may affect your sale. I will also review a customized market and equity analysis with you. Then we can develop a plan to sell your home for the best price, terms and conditions.
If you are interested in your home’s current market value please reach out to me at (760) 840-1360.